News

Information from the Statistics and Census Service (DSEC) indicated that the Composite CPI for February 2015 increased by 5.30% year-on-year to 104.34, attributable to rising rentals for dwellings and dearer charges for eating out, as well as higher charges for package tours during the Lunar New Year period. In comparison with February 2014, notable increase was observed in the price index of Housing & Fuels (+10.70%), and price index of Recreation & Culture and Health increased by 9.49% and 5.64% respectively. On the contrary, price index of Transport decreased by 1.04%. The CPI-A (104.49) and CPI-B (103.12) increased by 5.60% and 4.76% respectively year-on-year. The Composite CPI for February 2015 increased by 0.90% month-to-month. Higher charges for package tours drove up the price index of Recreation & Culture by 7.15%. Meanwhile, price index of Miscellaneous Goods & Services and Food & Non-Alcoholic Beverages rose by 1.84% and 0.81% respectively on account of rising charges for hairdressing services and general increase in prices of fresh food and produce before the Lunar New Year, as well as dearer charges for eating out. On the other hand, seasonal sale of women’s clothing pushed down the price index of Clothing & Footwear by 1.21%. The CPI-A and CPI-B increased by 0.92% and 0.73% respectively month-to-month. For the 12 months ended February 2015, the average Composite CPI increased by 5.88% from the previous period. Price index of Housing & Fuels (+11.82%) and Food & Non-Alcoholic Beverages (+5.84%) registered remarkable increase. The average CPI-A and CPI-B rose by 6.37% and 5.66% respectively. The average Composite CPI for the first two months of 2015 increased by 5.03% year-on-year; the average CPI-A and CPI-B rose by 5.45% and 4.52% respectively. The Composite CPI reflects the impact of price changes on the general households. The CPI-A relates to about 50% of the households, which have an average monthly expenditure of MOP10,000 to MOP29,999. The CPI-B relates to about 30% of the households, which have an average monthly expenditure of MOP30,000 to MOP54,999.
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The Green Business Co-operation Day will be held at 2pm on the first day of the Macao International Environmental Co-operation Forum and Exhibition (2015MIECF) (26 March) at the Venetian Macao Hotel-Resort. Local and overseas leaders of governments and business associations, representatives from world-renowned enterprises as well as professionals and academics will give thematic speeches on future developments and relevant technologies for clean air, vehicle carbon-emission of vehicles and electric vehicle industry. The Green Business Co-operation Day will be held on 26 March The Green Business Co-operation Day is a one of a series of activities to be held during 2015 MIECF. This year’s activities include the Green Forum, networking cocktail reception and contract signing ceremony. Session 1: The Business Case for Better Air Quality: Solutions for the Commercial and Industrial Sectors The Green Forum will be held at 2pm on Thursday 26 March in the Sicily Room of the Macao Venetian Resort-Hotel. The event is divided into two sessions –Session 1 has the theme of “The Business Case for Better Air Quality: Solutions for the Commercial and Industrial Sectors”. Mr Antonio Trindade, Founding President of Macao Association of Environmental Protection Industry will be the moderator of the Forum with speakers including Ms Mabel Mak, Honourable Advisor of the Centre for Environmental Education and Communications of Ministry of Environmental Protection, PRC, Mr José Manuel Machado Saldanha Bento, Head of Power Production and Gas & Power Pricing and Regulation for Iberia, GALP Energia, Mr João Marques da Cruz, Executive Board Member of EDP - Energias de Portugal, S.A., President of Portuguese Chinese Chamber of Commerce & Industry, Mr Ger Bergkamp (PhD), Executive Director of the International Water Association and Professor Fan Xin, Director of Tongfang Co. Ltd. Experts in this session will discuss how using energy more efficiently will bring direct benefit to businesses as well as reduce pollutants, and explore cutting-edge technologies and new solutions for efficient air pollution control in the commercial and industrial sectors. Session 2: Reviewing Air Quality and the Transportation Industry The theme for Session 2 is “Reviewing Air Quality and the Transportation Industry”, with Mr Wang Zhishi, Professor in Macau University of Science and Technology as the moderator and speakers including Mr Daniel M. Cheng, President of Hong Kong Environmental Industry Association and Deputy Chairman of Federation of Hong Kong Industries, Mr Yuelin Liang, Consultant Manager, Principal Transport Consultant at Siemens AG (Germany), Head of Siemens Mobility Consulting, Siemens Ltd. China, Ms Isabel Fan, Country Director of Tesla Motors Hong Kong, Mr John Ma, Marketing Director of Electric Vehicle Division, China Dynamics (Holdings) Limited, Mr Henry Yip, Senior Regional Manager, Asia-Pacific Auto Sales Division BYD Auto Co. Ltd. Speakers will discuss the current and future strategies for urban vehicles and transport systems. It will look into the capacity of electric vehicles to reduce emissions in the cities. The forum will be followed by the Green Business Networking Cocktail Reception and Signing Ceremony which will be held at 5:30pm on the same day at Exhibition Hall A of the Venetian Macao Resort-Hotel. Contracts for a series of environmental co-operation projects will be signed at the ceremony, providing opportunities for networking and business exchanges for enterprises from different regions, and further promotes green industry collaboration between enterprises in Macao and overseas. All local enterprises, professionals and the general public are welcome to participate in the events. Places are limited, interested parties please contact Ms Kuan of IPIM’s Research and Information Division on 8798 9127; Fax: 2872 8208; Email: ipimpcom@ipim.gov.mo). For further details on 2015MIECF Green Business Co-operation Day, please visit the official website: www.macaomiecf.com. 2015MIECF, hosted by the Macao SAR Government and co-ordinated by the Macao Trade and Investment Promotion Institute and the Environmental Protection Bureau, will be held from 26 to 28 March at the Venetian Macao Resort-Hotel.
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The opening of the exhibition “This is where I will always be – Works by Nuno Santiago”, organised by the Cultural Affairs Bureau, held on March 20, Friday, at 6.30pm, at Tap Seac Gallery, showcasing 28 painting works by the Portuguese artist. Present at the opening ceremony were Secretary for Social Affairs and Culture, Alexis, Tam Chon Weng; Director of the Department of Education and Culture of the Liaison Office of the Central People’s Government in the Macao S.A.R, Xu Ting; The Representative of the Consul General of Portugal in Macao and Hong Kong, Chancellor Manuel Ricardo da Silva; President of the Cultural Affairs Bureau, Ung Vai Meng; Member of the Cultural Consultative Committee, Carlos Marreiros; Director of Macao Delegation of the Orient Foundation, Ana Paula Cleto; Artist of the exhibition, Nuno Santiago. For this exhibition, Nuno Santiago used a variety of different textures on large canvases, combining abstract visual elements to create mysterious spaces, allowing the audience to feel the atmosphere and the idea associations intrinsic to each work. The works on display were specially created for the exhibition. Nuno Santiago was born in Lisbon, Portugal, in 1956, and attended painting courses at the Rio de Janeiro Federal University as well as Escola Superior de Belas Artes de Lisboa. From 1987 to 1993, he lived and worked in Macao, place that holds a special affection for the artist and where he organised, during his stay, several visual arts exhibitions. In 1994, he returned to Portugal and held exhibitions all over the world, showcasing unique works and revealing his constant creative and original approach. In order to promote education in the field of the visual arts to the public and strengthen its knowledge about the artist and his works, in addition to providing guided tours at a set time schedule throughout the exhibition period, audio description tours will also be available for the visually impaired, thereby hoping to share these unique works with all citizens and allow them to enjoy the pleasures of visual arts. Details on the guided tours will be announced at a later date. The exhibition “This is where I will always be – Works by Nuno Santiago” open from 21 March to 10 May, from 10am to 7pm, at the Tap Seac Gallery, located at No. 95, Avenida do Conselheiro Ferreira de Almeida. Admission is free.
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This year, 329 outstanding local students were accepted by the University of Macau (UM) for undergraduate studies through the Principals’ Recommended Admission programme. Of the 329 students, 39 rank No 1 in their classes or schools, and will be awarded the University of Macau Grand Lotus Scholarship. This year, UM received a large number of applications from outstanding local students, which is believed to be linked to the university’s efforts in curriculum reform. All the 329 students will be awarded a scholarship. 20 will receive the University of Macau Grand Lotus Scholarship; 129 will receive the University of Macau Golden Lotus Scholarship; and 180 will receive the University of Macau Silver Lotus Scholarship. Recipients of these Lotus scholarships can enjoy the benefits of the scholarships throughout their years of study at UM. Recipients of the University of Macau Grand Lotus Scholarship will be admitted to the Honours College in their second year of study with exemption from exams, and will also receive special guidance and training from the deans and professors in their faculties. These opportunities aim to help outstanding students achieve their full potential and become well-rounded graduates so they can better serve Macao after graduation. These students not only excel academically, but are also gifted in different areas. Some of them have won awards at international competitions. Some have represented Macao at sports competitions. Among them are winners at an Asian swimming championship, a national writing competition, the National High School Physics Competition, and the China Adolescents Science and Technology Innovation Contest; the first runner-up of the WorldSkills Competition in the web design category, who was awarded a Certificate of Merit by the Macao SAR government; best debaters at regional debate competitions; and members of the Macao Conservatory’s Student Chinese Orchestra and Macau Youth Symphony Orchestra. In addition, many of these students are actively involved in community service. Under UM’s residential college system, which serves as an important instrument for the implementation of the university’s unique ‘4-in-1’ model of education (discipline-specific education, general education, research and internship education, and community and peer education), all undergraduate students are required to live in a residential college during their first year of study, so they can have more opportunities to interact with their peers and professors and participate in campus activities. The university hopes attracting well-rounded students through the Lotus scholarships will help to create a positive learning environment so that the university can produce more exemplary graduates for society.
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Consumer Council conducted its sixth ‘Supermarket price survey’ in March on 19 March for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included supermarkets in São Lázaro and São Lourenço Parishes. The latest ‘Supermarket Price Survey’ is now available on Consumer Council’s website (www.consumer.gov.mo), and the ‘Supermarket Price Information Platform’ iPhone and Android apps. The survey is also available free of charge at the offices of Consumer Council, IACM’s Iao Hon and S. Domingos Markets, bookstores and libraries. Consumers may also access the resources through WAP channels on their mobile phones. With reference to the local six parishes and the number of supermarkets in each parish, the Council has divided over 100 supermarkets into 8 areas for price collection. The Council collects prices from these supermarkets for the provision of a more comprehensive database for consumers to check price discrepancies and make price comparisons according to their desired locations. For inquiry, please call 8988 9315.
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To keep pace with the evolving needs of society, the University of Macau (UM) has been constantly improving its curriculum in order to provide a greater variety of choices for the students. Also, to support the SAR government’s higher education policy, UM has been constantly seeking international academic accreditation. For example, three bachelor’s degree programmes offered by UM’s Faculty of Science and Technology have been recognised by Washington Accord signatories (including the United States, the United Kingdom, Canada, Japan, Russia, etc). Three bachelor’s degree programmes offered by the Faculty of Business Administration have also gained international accreditation. Other faculties at UM are also developing plans to seek accreditation from independent international academic institutions. UM expects to see more academic programmes gain international accreditation in the future. The reason that the new five-year Bachelor of Law programme (conducted in Chinese and Portuguese) launched after the handover of Macao and the Bachelor of Law programmes in Chinese and Portuguese that have been reformed after the handover are not automatically recognised by the Portuguese government is as follows: the programmes launched by UM before the handover of Macao were recognised automatically through publication on Portugal’s Official Gazette (Diário da República) by the Portuguese government, after an academic process was completed for each programme involving UM, the Macao government, the Ministry of Education in Portugal, and the Council of Rectors of Portuguese Universities (CRUP). As Macao is no longer a territory under Portuguese administration, programmes launched or revised by UM after the handover will not be published on Portugal’s Official Gazette and recognised by the Portuguese government automatically. Like the other faculties at UM, the Faculty of Law is developing a plan to seek accreditation from independent international academic institutions. All law schools in the world, including those in Portugal, have been improving the syllabus of their law programmes to meet the needs of society. The purpose of the curriculum reform in UM’s Faculty of Law is to produce high-quality bilingual graduates who are proficient in Chinese and Portuguese to meet the needs of the Macao society.
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The Monetary Authority of Macao (AMCM) announced the preliminary financial figures of the Macao SAR Fiscal Reserve as of 31 December 2014. The total size of the Fiscal Reserve stood at MOP246.34 billion, which comprised of MOP116.46 billion as the Basic Reserve and MOP129.88 billion as the Excess Reserve. Review for the year of 2014 During the year of 2014, the AMCM, like any other public institutions of similar investment profile, continued to face a persistent wave of various risks in major investment markets worldwide. With the transfer of the fiscal budget surplus of 2012 in the beginning of 2014, the size of the Fiscal Reserve grew significantly and so did the excess reserve part as a result. While safeguarding the legally required size of the Basic Reserve, the AMCM has adopted a more progressive and diversified strategy in asset allocations in order to strive for a better investment return. Global interest rates remained at record lows in most of the major economies and traditional benchmark type government debt securities offered little interest income. The AMCM prudently adjusted the asset allocation of the Fiscal Reserve between high grade and high yield debt and increased its exposure to global corporate and financial bond sectors, aiming to lock in higher interest income from a diversified portfolio of bonds with strong credit ratings. The total allocation to bonds stood at approximately 47% by the end of the year, of which U.S. Dollar and Renminbi denominated bonds were the major components. China’s monetary policy accommodation during the year created a favorable market environment for the bond investment of the Fiscal Reserve. Market yield level for onshore bond instruments went through a period of downward moves. Holdings of the Fiscal Reserve’s onshore bond portfolio recorded a general revaluation gain as a result. The Fiscal Reserve’s efforts in diversifying its overseas bond portfolio into a wider product range, on the other hand, further helped the overall bond portfolio in securing a higher return. For the year 2014, despite widespread market volatilities, total income generated from bond investments amounted to MOP3.65 billion and continued to form the largest source of income for the Fiscal Reserve. Rate of return improved to 3.3% for the year 2014, versus 2.2% the previous year. After a comprehensive consultation with the Advisory Board of the Fiscal Reserve, the AMCM started investing into the equity sector with a diversified spectrum covering global emerging markets, global developed markets and the onshore China equity market (through QFII). Total allocation of equities amounted to an approximate 7.7% of the Fiscal Reserve as a whole as at the end of 2014, providing further diversification benefits for the overall investment process. Revaluation losses from global emerging markets equity portfolios during the year, nevertheless, were fully recouped from the relatively good performance in global developed markets equity portfolios. The major engine behind the MOP1.4 billion overall income from equity investment came from the onshore China equity portfolio where the benchmark large and medium-capitalization sector recorded significant price gains, contributing to the overall 8.7% return for the Fiscal Reserve’s equity investment in general. The movements of global major currencies in the foreign exchange market were extremely volatile, thus the relevant risk was high in foreign exchange trading. At the end of the year, US dollar index surged 12.8%, the euro and the Japanese yen fell simultaneously by 12.0% while the Australian dollar, the Canadian dollar and the British pound fell 8.4%, 8.6 % and 5.9% respectively. Although the decline in offshore renminbi was more moderate, yet it fell 2.6%. During the year, AMCM increased some holdings of offshore renminbi and US dollar at appropriate levels, while the positions of other currencies remained unchanged at very low levels. In 2014, the FX revaluation loss of fiscal reserve reached MOP3.14 billion which was mainly due to the loss on revaluation of MOP2.63 billion in renminbi. However, after incorporating the total interest income MOP3.93 billion derived from renminbi bonds and deposits, the actual renminbi investment income was MOP1.3 billion, representing an investment return about 1.11%. Had there been no holdings in the renminbi assets but holding in USD denominated assets instead, and by comparing with the rate of return of US Treasuries 1-3 years at 0.63%, the interest income in USD would have been MOP0.74 billion only. In money market operations, AMCM held adequate amount of short-term deposits to await optimal opportunity for assets relocation while other funds were adequately allocated for longer term deposits at different time intervals, and taking the advantages of higher renminbi interest rates, and to strive for the maximization of interest income. As for the whole year, total deposits interest amounted to MOP2.75 billion, with the corresponding rate of return of 2.40%, which was about 67 basis points higher than the 1.73% in 2013. In general, investments in bonds and equities for the capital market portfolios generated an overall positive income on the back of benign market performance, together with interbank deposits in the money market section, bringing together a reasonable annual return for the Fiscal Reserve. Although the renminbi exchange rate fell again at the end of the fourth quarter and thus suffered further FX revaluation loss. But after including the higher renminbi interest income, the actual earnings of overall renminbi investment were still at a reasonable level after incorporating comparatively higher interest income in renminbi. For the Fiscal Reserve as a whole, the year 2014 registered a total income of MOP4.67 billion, representing an approximate annual return of 2.0%. Outlook for the year 2015 It is anticipated that the rising trend of official U.S. interest rate, the economic situation and the direction of financial policies of major countries will lead to the volatility of global bond markets, exchange rates and stock market. Such risk factors in turn could substantially affect the short term revaluation results of the Fiscal Reserve. Against this backdrop, the AMCM will closely track market developments and aim to safely and effectively implement dynamic portfolio allocations based on an overall appropriate risk level. In particular, the Fiscal Reserve will make use of market opportunities to further strengthen the portfolio’s weighting on the equity sector. In regard to the outlook on the renminbi exchange rate, it is predicted that, under the backdrop of foreseeable rate cuts by world's major central banks, the PBOC may possibly follow the rate cut to stimulate the economy during the year, and therefore there will be sustainable downward pressure on the renminbi. AMCM will monitor closely the relevant developments in the market, make timely assessment on the consolidated income between the loss on FX revaluation and interest income, follow up closely and execute necessary hedging strategy, and adjust appropriately the ultimate asset allocation in renminbi based on risk and return consideration, thus ensuring the safety of funds invested while at the same time pursue a steady medium to long term rate of return. * Please find the attached file
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After comprehensive analyses, the Chief Executive, Mr Chui Sai On, will submit an evaluation report to the Central Government for the optimisation of the facilitated individual travel scheme. Reports on the city’s capacity for tourists -- compiled by the Secretary for Security, the Secretary for Social Affairs and Culture, and the Institute for Tourism Studies -- have been submitted to the Chief Executive’s Office. The optimisation of the facilitated individual travel scheme will be based on the city’s actual situation and the report, finding a balance between tourism development and the people’s living quality. The Government places great importance on Macao’s capability for receiving visitors, especially during peak holiday periods: and for this Mr Chui convened an inter-departmental meeting before the Lunar New Year and deployed a tourism reception strategy with crowd management at checkpoints and major attractions over the holidays. The facilitated individual travel scheme was introduced in 2003 as a full support from the Central Government to help Macao recover from the economic slowdown brought about by the Severe Acute Respiratory Syndrome disease (SARS). The Government felt that after having been implemented for more than a decade, the time had come to review the scheme and to plan ahead.
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The Chief Executive Mr Chui Sai On will deliver his Policy Address for the Fiscal Year 2015 on Monday (23 March) at 3 pm in the Legislative Assembly. This will be followed by a press conference at Government Headquarters, at 5 pm, where Mr Chui will take questions from the press. The following day, Mr Chui will attend a plenary meeting of the Legislative Assembly between 3pm to 6pm to explain his policies blueprint and answer questions from legislators. The five policy secretaries and their subordinates will present their 2015 policy guidelines to the Assembly from 3 pm to 8 pm, on the following dates: Secretary for Administration and Justice: 26-27 March, Secretary for Economy and Finance: 30-31 March, Secretary for Security: 9-10 April, Secretary for Social Affairs and Culture: 13-14 April, and Secretary for Transport and Public Works: 16-17 April. Teledifusão de Macau (TDM) will broadcast these live on its television and radio services. Members of the public could also watch the live broadcast online through the Portal Website of the Macao SAR (http://www.gov.mo), the website of the Office of the Chief Executive (http://www.gce.gov.mo), the website of the Legislative Assembly (http://www.al.gov.mo), the website of the Government Information Bureau (http://www.gcs.gov.mo), and government news channel in YouTube (www.youtube.com/macaogcs). Chinese and Portuguese versions of the Policy Address for download will be available on these websites. After the Chief Executive speaks on Monday, hard copies of the Policy Address and pamphlets will be available at the Government Head Office Auxiliary Bureau, Government Information Bureau, Printing Bureau, Government Information Centre, Civic and Municipal Affairs Bureau, Macao Central Library, and the Macao Post. To ensure a better understanding of the policies, the Macao Post will deliver pamphlets in Chinese and Portuguese with highlights of the Policy Address to every household in Macao. In addition, members of the public can pick up the pamphlets at locations, such as libraries of the Civic and Municipal Affairs Bureau, environmental information service centres, citizen service centres, centres of the Social Welfare Bureau, social affairs centres, centres of the Education and Youth Affairs Bureau, associations, non-government organisations and schools.
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As one of the work items in the yearly plan, the fuel farm exercise at Macau International Airport, simulating a fire in the farm, was carried out this afternoon (19 March 2015) to test and assess the capacity of the government entities and the operators in handling a fuel farm emergency when a case arises. All entities involved cooperated closely with each other in resolving the crisis. The exercise was deemed smooth. The “Fuel Farm Exercise 2015” started at 14:30 and lasted for one hour. The scenario was of a fire incident taking place in a fuel tank top due to static electricity. Nam Kwong Petroleum & Chemicals Co. Ltd., the fuel provider, immediately activated the safety systems according to their internal procedures and moved away the vehicles parked in the area. Simultaneously, they informed all concerned entities involved in the emergency in accordance with the Airport Emergency Plan. The airport fire fighting station delivered their trucks to the spot at once to put off the fire. Although there were no injuries, the commander-in-chief asked for additional support from the Fire Services Headquarters and evacuated the staff in the vicinity of the incident, considering the high critical degree of the incident area. The exercise was coordinated by the Administration of Airports, Ltd. The communication between all personnel involved and the delivery of fire fighting facilities were all carried out efficiently; the staff was also evacuated in a timely and orderly manner. About 300 people took part in the exercise, who represented the Unitary Police, the Public Security Police Force, the Fire Services, the Civil Aviation Authority of Macao SAR, CAM-Macau International Airport Company Ltd., the Administration of Airports Ltd., Nam Kwong Petroleum & Chemicals Company Ltd., the Macau Security Company Ltd., Menzies Macau Airport Services Ltd., MCS-Macau Catering Services Company Ltd. and Air Macau Company Ltd.
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